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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2016
Information of Location and Fair Value of Derivative Financial Instrument Included in Consolidated Statement of Financial Positions

The following table provides information of location and fair value of derivative financial instrument included in our consolidated statement of financial positions as of December 31, 2016.

 

Particulars

    Nominal
Amount		      Fair Value of derivative and
location on statement of
financial position as on
31st December 2016		      Gain/(loss) on fair
value		  
         Effective      Ineffective  
            (In thousands)  

Cash flow Hedge

        


 Deferred Income
Taxes and Other
non-current
assets		  
 
 
 		     

 Other
current
assets		  
 
 		   

Pay fixed Interest rate swap

     
 $300
Million		  
 		    $ 503      $ 30      $ 533        —    
Net Gains (Losses) Recorded in Other Income and Consolidated Statements of Income (Expense), Net Relating to Foreign Exchange Contracts Not Designated as Hedges

The following table presents the net gains (losses) recorded in other income relating to the foreign exchange contracts not designated as hedges for the periods ending December 31, 2016, 2015 and 2014.

Gains (Losses) recognized in other income,net:

 

     2016      2015      2014  
     (In thousands)  

Gains/(Losses) recognized in other income, net

    $ —        $ —        $ 3,836  
Change in Balances of Accumulated Comprehensive Income (Loss)

The change in balances of accumulated comprehensive loss for the year ended December 31, 2016 is as follows:

 

                       (In thousands)  
     Foreign
Currency
Translation
Adjustments		     Unrealized
Gains (losses)
on Securities		     Defined
Benefit
Pension
Plans		     Unrealised
gain on
derivatives
designated
as cash flow
hedge		      Accumulated
Other
Comprehensive
Loss		  

Beginning balance

    $ (235,146 )    $ 332     $ (795 )    $ —        $ (235,609 ) 

Other comprehensive income (loss)before reclassifications

      (19,064 )      161       (525 )      322        (19,106 ) 

Amounts reclassified from accumulated other comprehensive (loss)income

      —         (165 )      (25 )      —          (190 ) 
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Net current-period other comprehensive (loss)/income

    $ (19,064 )    $ (4 )    $ (550 )    $ 322      $ (19,296 ) 
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Ending balance

    $ (254,210 )    $ 328     $ (1,345 )    $ 322      $ (254,905 ) 
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

The change in balances of accumulated comprehensive loss for the year ended December 31, 2015 is as follows:

 

                 (In thousands)  
     Foreign
Currency
Translation
Adjustments		     Unrealized
Gains
(losses) on
Securities		     Defined
Benefit
Pension
Plans		     Accumulated
Other
Comprehensive
Loss		  

Beginning balance

    $ (189,410 )    $ 4,600     $ (1,434 )    $ (186,244 ) 

Other comprehensive income (loss)before reclassifications

      (45,736 )      50       524       (45,162 ) 

Amounts reclassified from accumulated other comprehensive income (loss)

      —         (4,318 )      115       (4,203 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net current-period other comprehensive income (loss)

    $ (45,736 )    $ (4,268 )    $ 639     $ (49,365 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Ending balance

    $ (235,146 )    $ 332     $ (795 )    $ (235,609 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

The change in balances of accumulated comprehensive loss for the year ended December 31, 2014 is as follows:

 

                 (In thousands)  
     Foreign
Currency
Translation
Adjustments		     Unrealized
Gains
(losses) on
Securities		     Defined
Benefit
Pension
Plans		     Accumulated
Other
Comprehensive
Loss		  

Beginning balance

    $ (157,416 )    $ 3,808     $ (695 )    $ (154,303 ) 

Other comprehensive income (loss) before reclassifications

      (28,994 )      3,853       (758 )      (25,899 ) 

Amounts reclassified from accumulated other comprehensive income (loss)

      —         (3,061 )      19       (3,042 ) 

Out-of-period adjustment

      (3,000 )      —         —         (3,000 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net current-period other comprehensive income (loss)

    $ (31,994 )    $ 792     $ (739 )    $ (31,941 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Ending balance

    $ (189,410 )    $ 4,600     $ (1,434 )    $ (186,244 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  
Reclassifications out of Accumulated Other Comprehensive Income (Loss)

Reclassifications out of accumulated other comprehensive income (loss) for the year ended December 31, 2016 is as follows:

 

                 (In thousands)  

Details about Accumulated Other Comprehensive Income (loss) Components

    Affected
Line Item
in the
Statement
Where Net
Income Is
Presented		    Before
Tax
Amount		      Tax (expense)
Benefit		      Net of Tax  

Unrealized gains on available for sale securities realized in current year

    Other
income,
net		    $ (248 )     $ 83      $ (165 ) 

Amortization of prior service cost included in net periodic pension cost

    Cost of
revenues		    $ (35 )     $ 10      $ (25 ) 

 

Reclassifications out of accumulated other comprehensive income (loss) for the year ended December 31, 2015 is as follows:

 

                (In thousands)  

Details about Accumulated Other Comprehensive Income (loss)Components

    Affected
Line Item
in the
Statement
Where Net
Income Is
Presented		    Before
Tax
Amount		     Tax (expense)
Benefit		     Net of
Tax		  

Unrealized gains on available for sale securities realized in current year

    Other
income,
net		    $ (6,580 )    $ 2,262     $ (4,318 ) 

Amortization of prior service cost included in net periodic pension cost

    Cost of
revenues		    $ 149     $ (34 )    $ 115  

Reclassifications out of accumulated other comprehensive income (loss) for the year ended December 31, 2014 is as follows:

 

          (In thousands)  

Details about Accumulated Other Comprehensive Income (loss)Components

    Affected Line
Item in the
Statement Where
Net Income Is
Presented		    Before
Tax
Amount		      Tax (expense)
Benefit		      Net
of Tax		  

Unrealized gains on available for sale securities realized in the current year

    Other income,
net		    $ (4,555 )     $ 1,494      $ (3,061 ) 

Amortization of prior service cost included in net periodic pension cost

    Cost of
revenues		    $ 29      $ (10 )     $ 19  
Total (Tax) Benefit on Other Comprehensive Income (Loss)

Total tax (expense) benefit on other comprehensive income (loss) for the years ended December 31, 2016, 2015 and 2014 is as follows:

 

     2016      2015      2014  
     (In thousands)  

Tax expense on Foreign currency translation adjustments

    $ (46 )     $ (308 )     $ (337 ) 

Tax expense on unrealized gains on securities

      2        2,196        (430 ) 

Tax (expense) benefit on defined benefit pension plans

      287        (312 )       379  

Tax expense on cash flow hedge

      (211 )       —          —    
  

 

 

     

 

 

     

 

 

  

Total (taxes )benefit on other comprehensive income (loss)

    $ 32      $ 1,576      $ (388 ) 
  

 

 

     

 

 

     

 

 

  
Schedule of Estimated Useful Lives

Depreciation is computed primarily using the straight-line method over the estimated useful lives as follows:

 

     Years

Office building

    30

Residential property

    20

Computer equipment and software

    3

Furniture, fixtures and other equipment

    5-7

Vehicles

    3-5

Leasehold improvements

    Shorter of economic life or life of lease

Leasehold land

    Shorter of economic life or life of lease
Interest Rate Swap | Cash flow Hedge  
Net Gain (Losses) Recorded in Accumulated Other Comprehensive (Loss) Income

The following table present the net gains (losses) recorded in accumulated other comprehensive (loss)income relating to the interest rate swap contract designated as cash flow hedges for the period ending December 31, 2016, 2015 and 2014.

Gains (losses) on derivatives

 

     2016      2015      2014  
     (In thousands)  

Gains/ (losses) recognized in other comprehensive income (loss)

    $ 533      $ —        $ —    
Foreign Exchange Contract | Net Investment Hedging  
Net Gain (Losses) Recorded in Accumulated Other Comprehensive (Loss) Income

Gains (losses) on derivatives

 

     2016      2015      2014  
     (In thousands)  

Gains/ (losses) recognized in other comprehensive income (loss)

    $ —        $ —        $ 724 * 

 

* for and up to three months ended March 31, 2014.